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About This Property
A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1.1M+ in gross annual revenue with a 6% cap rate and $483,165 current NOI. Three renovated two-story towers on a 16,950 SF lot, three blocks from the Atlantic Ocean and one block from Collins Ave. Every unit is designer-finished with quartz countertops, rainfall showers, smart entry, and full kitchens. Amenities include a resort-style pool deck, fitness center, game room, kids' lounge, and tropical grounds, rare for North Beach at this price point. Four exit strategies: redevelop, rebrand, hold, or resell, with no capital restructuring required. Miami Beach's stringent STR licensing creates a structural moat that new entrants cannot easily replicate. Prime location. Proven revenue. Real optionality. This is the kind of asset North Beach simply doesn't offer twice. The owner is willing to continue operating the property for up to six months for a management fee of 10% of gross rental revenue, allowing the new owner time to learn the business and either transition to a new property manager or assume operations directly.
Property Features
County
Miami-Dade County
Section
2
Area
19155
Subdivision
Interior
Cooling
Wall/Window Unit(s)
Bedrooms
Floors
Ceramic Floor, Tile, Vinyl
Full Baths
Appliances
Heating
Other
Style
Garage Spaces
Construction/Exterior
Concrete Block Construction, Brick
Patio / Deck Description
Exterior
Has a Pool
Possession
Funding
Lot Size in Acres
Water
Public
Sewer
Other
Lot Size in Sq. Ft.
16950
Has Waterfront
No
Parking Description
Common, Free Parking, Garage
View
Has Garage
No
Roof/Attic
Concrete
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1963
Tax Amount
$80916
APN
NA
Square Feet Source
NA
Map
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